Betting operator Parimatch has revealed it is ‘poised for the payment push’ in 2020 as the company continues to expand its operations.
The year has undoubtedly seen a growth in payment-based technologies – such as AI, biometrics and blockchain – and Parimatch is ‘acutely aware of and investing in’ these already.
However, company head of billing, Olga Golikova, believes some of new technologies are just ‘a wrapper for the old proven methods’ and that ‘payments are not about diversity, but rather about quality.’
“Technologies are developing at a frantic speed, and of course it influences the payment market,” she elaborated.
“Even 50 years ago, no one could have thought that everyone in the house would have a computer with Internet, and now we have payments with Face ID being tested.
“Technology, however, is just a wrapper for the old proven methods. Apple Pay and Google Pay are technical wrappers for plastic cards. There is still a bank behind them.
“Mobile payments based on customer mobile account and this is another branch of technological development. Cryptocurrency is the third one and so on… The one with the easiest payment flow is about to win!”
She continued by acknowledging the importance of payment technology when operating a sportsbook.
Boasting an international portfolio, the firm uses data analysis from the various markets in which the brand operates to create the best payment experience it can.
Golikova explained: “Different payment methods are developing in different parts of the world. Where there is low penetration of plastic cards, mobile payments, e-wallets, prepaid cards are developing. And the logic is not that the operators are looking for a round of banks, but that the population simply does not have cards and a banking account.
“However, they do have mobile phones. For comparison, the turnover on cards in CIS region at Parimatch is 75%-80%, whereas in Africa mobile payments occupy this position. The issue is in the exclusive accessibility and user-friendly solutions for the end users.”
When handling with people’s money for the use of betting, a level of social responsibility has to be ensured to protect the player.
With demands from the UK government for improvements in consumer protection and global investigations into problem gambling, operators must focus on player protection as much as security.
Golikova emphasised that Parimatch’s payment systems ensure complete protection and she believes it is ‘operator`s social responsibility to know our customer.’
“This is very important not only for society, but also, for the operator,” added Golikova.
“Customer verification is an important part of the fight against payment fraud. E-commerce and gaming are driving the online market and leading the way in payments going into 2020 and we hope to continue the trend of transactions being a top priority for the industry.”
